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Parspec

AI-powered construction product selection and procurement

AI platform that simplifies product discovery, sourcing, and quoting for MEP distributors and sales teams. Uses multimodal AI to extract technical requirements from specifications and identify compliant product alternatives.

$31.5M raised 📈 Growth Stage
Founded 2021 • 288 customers including 4 of 5 largest US electrical distributors (Graybar, Rexel, Crescent Electric, Border States)
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Why This Tool Exists

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The Problem

MEP distributors and sales teams manually search through thousands of product catalogs and datasheets to find spec-compliant alternatives, taking hours per quote. Teams create quotes using multiple spreadsheets, introducing errors and delays that slow revenue cycles.

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The Solution

Parspec uses multimodal AI to automatically extract technical requirements from construction specifications and design documents. The platform identifies compliant product alternatives, generates accurate quotes with pricing, and creates submittals and O&M documentation in minutes instead of hours.

How You Use It

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Delivery Method

SaaS Web Application
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Integrations

Not publicly specified
Disciplines
Construction, Owner/Developer
Project Phases
Bidding/Procurement, Construction Documentation
Project Types
Commercial, Industrial

Data Transparency

Exactly what this tool uses and how

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Input

What it needs

Required: Construction specifications, Design documents, Technical requirements
Optional: Project parameters, Pricing data, Distributor catalogs
Formats: PDF specifications, Text specifications, Product data sheets, Distributor catalogs
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Output

What you get

Format: Product recommendations, quotes, and documentation packages
Fields: Spec-compliant product alternatives, Product pricing and availability, Accurate quotes with markups, Submittal packages, Operations & Maintenance (O&M) documentation, Job comparison data
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Algorithm

How it works

Model: Proprietary multimodal AI (model name not publicly specified)
Accuracy: Not publicly specified
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Privacy

How your data is protected

Retention: Retained as long as necessary for service provision; project-based
Training: Aggregated and anonymized data used for analytics and performance monitoring; not specified for model improvement
Compliance: SOC 2 Type 1 certified (Prescient Assurance, renewed June 2024), SOC 2 Type 2 audit in progress
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API

Integration

Endpoint: Contact vendor for API access
Method: Not publicly documented

Use Cases

  • • MEP distributors identifying spec-compliant product alternatives for customer bids
  • • Sales agents generating accurate quotes with current pricing and distributor availability
  • • Submittal document preparation from technical specifications and product data
  • • Operations & Maintenance manual assembly for project handover
  • • Product specification compliance validation against building codes

Pricing

Free
Not available
Pro
Credit-based subscription: Quote = 1 credit, Submittal = 1 credit, O&M = 1 credit, Product Finder = 100 credits/user/year. Contact sales for specific tier pricing.
Enterprise
Custom pricing with volume discounts
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📚 Research Sources & Data Quality Last verified: 2026-02-01
✅
Verified Data (17)
vendor, website, fundingTotal, yearFounded, maturityStage, customerBase, problem, solution, deliveryMethod, disciplines, projectPhases, projectTypes, algorithm-approach, privacy-compliance, control-features, use-cases, pricing-structure
❌
Not Found (5)
integrations-third-party, api-endpoint-documentation, algorithm-accuracy-metrics, data-training-policy, webhook-support
Our Commitment: We only include verified data from official sources. If information isn't publicly available, we mark it as "Not publicly specified" rather than guessing.

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